The Magpies rejected a £14million bid for the 28-year-old France international from Paris St Germain on Sunday, but are awaiting a second approach closer to their valuation, which is in excess of £20m.

Pardew is hoping against hope that the big-spending Ligue 1 outfit cannot tempt owner Mike Ashley into selling Cabaye with the kind of offer which prompted Andy Carroll's £35m departure for Liverpool three years ago this month.

But asked if he was confident of keeping the player, Pardew said: "You are talking to someone who lost Andy Carroll with eight hours to go, so am I confident?

"No, I'm not confident, and I don't think any team not in a Champions League position or fighting for a Champions League position could be."

Pardew insists that is eminently preferable than the position in which he found himself back in January 2011 when leading scorer Carroll was sold without a replacement.

He said: "Well, you are talking to a manager who actually when he lost Andy Carroll, lost a massive part of a team that wasn't safe. We didn't have 36 points when we lost Andy Carroll, so it was a hell of a blow.

Alan Pardew isn't confident the Magpies will hold on to Cabaye [GETTY]

“We would need to bring somebody in, for sure”

Alan Pardew

"I still maintain that was one of my best periods as a manager at this football club, getting us safe that year, so in terms of my mentality, I'm just strong about it.

"We would need to bring somebody in, for sure. You can't lose a player of that quality and not replace him.

"But we are going to need some time to do that. We have informed the club that's interested and the agents of the player that we are very conscious of that."